20,000 Bitcoin Millionaires Disappeared

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More than 20,000 'millionaire wallets' disappeared during the first quarter of this year due to the impact of the Bitcoin (BTC) price drop.

According to the cryptocurrency media outlet Finbold on April 10 (local time), the number of Bitcoin addresses holding more than $1 million decreased from 148,084 to 127,494 from January 1 to March 31, 2026, a total reduction of 20,590. This represents a quarterly decrease of 13.90%.

This decrease coincided with a price drop. Bitcoin fell approximately 23% from about $88,700 at the beginning of the year to $68,200 at the end of the first quarter, leading to a significant number of wallets falling below the $1 million threshold. The media explained that this was more of an asset reclassification due to price declines than a large-scale sell-off.

Intermediate investors in the $1 million to $10 million range were particularly hard hit. Addresses in this range decreased by 18,483, from 131,716 to 113,233. High-value addresses holding over $10 million also decreased by 2,107, from 16,368 to 14,261, but their decrease was relatively limited.

Compared to the previous year, the decrease was even larger. While the first quarter of 2025 saw a decrease of only 13,942, the first quarter of 2026 experienced an additional 6,648 decreases, marking a significantly larger drop of approximately 47.7%. This indicates that market volatility has had an even greater impact on wallet distribution.

However, institutional investors showed a different trend. During the same period, major asset management firms like BlackRock expanded their Bitcoin holdings despite the price drop. This suggests that the market is being restructured, with intermediate investors reacting sensitively to price fluctuations while large participants increase their holdings according to long-term strategies.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*